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MREB Free Summer Seminar
MREB
The Business Education Centre invites REALTORS to a free one hour seminar on 'FINTRAC and Canada's Anti-Spam Legislation.
Date: Wednesday, Aug. 6

For details, visit this link or call the Board Office today at 905-608-6732, Ext. 21.
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Real estate board offering new courses for agents
Mississauga.com
The Mississauga Real Estate Board has partnered with the Real Estate Institute of Canada to offer courses for real estate professionals in the Mississauga area. MREB will now offer courses that will lead to the Fellow of the Real Estate Institute designation. As well, it will also offer National Association of Realtors courses.
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Report: Introduction of land transfer tax in other cities carries huge cost
CTV News
The adoption of a municipal land transfer tax in other Ontario communities carries a huge economic cost, a new report suggests. In a study commissioned the Ontario Real Estate Association (OREA), the groups warns that the implementation of the tax in Mississauga, Hamilton, Ottawa, London and Thunder Bay would cut economic activity in those communities by nearly a billion dollars over five years.
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Sellers' form still troubling the real estate industry
Toronto Star
The Seller Property Information Statement, a disclosure form created by the real estate industry, continues to cause grief for sellers, buyers — and real estate agents. Back in August, 2008, Daniel Fors bought a house in Thunder Bay from Vance and Dorothy Overacker for $392,000. Jack Mallon was the real estate agent for the sellers on the transaction. Following closing, the buyer experienced significant water problems in the basement and roof.
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Ottawa company wins major contract with Infrastructure Ontario
Ottawa Business Journal
Ottawa-based MHPM Project Managers has secured a multi-year, $500 million contract to deliver 850 construction projects throughout the province, the company recently announced. The projects, on behalf of Infrastructure Ontario (IO), are for provincially owned and leased properties in eastern, central, and southwestern Ontario.
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In Toronto: Put your money into REITs, not condos
The Globe and Mail
Investors would be better off putting their money into real estate investment trusts that specialize in apartments than they would buying a condo to rent out in either Toronto or Calgary, real estate analysts at Royal Bank of Canada suggest in a new research note. "Although purchasing hard real estate assets usually has a positive emotional aspect to it, the fact is that REITs generally outperform condo investments in both Calgary and Toronto over most time horizons," write the analysts.
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How to take advantage of real estate distortions
Financial Post
Buying publicly listed real estate companies has been cheaper than purchasing it directly in the property market for several decades, but Vision Capital portfolio managers Jeffrey Olin and Frank Mayer also find opportunities in marketplace distortions and inefficiencies such as those created by investors' focus on yield.
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Condo market in Ontario heats up
Net News Ledger
When it comes to choosing a new home, growing numbers of Ontario home buyers are opting for a condo. While the average detached home is still the standard for prospective homebuyers in Ontario, many Ontarians are turning to the condo market for their future residential needs, according to a new survey conducted by Ipsos Reid on behalf of the Ontario Real Estate Association and The Ontario Home Ownership Index.

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Mississauga hires new director of transportation and infrastructure planning
Mississauga.com
The City of Mississauga has appointed Helen Noehammer as director, transportation and infrastructure planning. Noehammer will be responsible for managing all business functions of the Transportation and Infrastructure Planning Division. "Helen's background and experience will be beneficial to the City as we continue to urbanize and deal with more complex high density development," said Martin Powell, commissioner of transportation and works.

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Windsor's housing market posts strong June sales
The Windsor Star
With the average sales price on the rise, the Windsor area's housing market posted its strongest June sales since 2011, according to the Canadian Real Estate Association. On a seasonally unadjusted basis, residential sales last month totalled 526 — up from 497 in June 2013, said Gregory Klump, chief economist at CREA.

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Online real estate brokerage launches mortgage arm
Mortgage Broker News
A successful online real estate brokerage recently launched its mortgage arm with the hopes of earning and keeping business throughout the buying process and it will look to an established brokerage to provide back-end support. "TheRedPin positions itself as a technology company that happens to sell real estate and most of the business we do is online; the agents are salaried and the mortgage department is very similar to that," Mark Olkowski, principle broker for TheRedPin Mortgage Brokerage Inc. told MortgageBrokerNews.ca.
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Supreme Court won't hear TREB appeal
Toronto Star
The Toronto Real Estate Board has lost a crucial court challenge in its bid to maintain control over certain valuable listing information, such as a property's past sale price and its time on the market. The Supreme Court of Canada issued a decision dismissing the board's leave to appeal a lower court ruling against the board. The ruling by Canada's top court means the case against the real estate board will now go back to the federal competition tribunal for a new hearing.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    The first 3 questions for first-time buyers (Toronto Star)
Survey: 70 per cent in their 20s don't consider a mortgage a debt (Toronto Star)
'HGTV effect' pushes home renovation spending to record $63 billion (The Vancouver Sun)

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Real Estate Update
Frank Humada, Director of Publishing, 289.695.5422
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